Over 202,000 enterprises established, resume operations in 10 months

As many as 202,300 enterprises were established and resumed operations in Vietnam in the first 10 months of 2024, a year-on-year increase of 9.1%, according to the General Statistics Office (GSO).

In October alone, the country recorded nearly 14,200 new enterprises with total registered capital of 153.5 trillion VND (6.07 billion USD). The figures represented a 9.8% decline in the number of firms, and an increase of 9.5% in capital. The average registered capital of a newly-established enterprise in the month reached 10.8 billion VND, up 30.8% over the previous month and up 21.4% over the same period last year.

Meanwhile, as many as nearly 8,700 enterprises resumed their operations in October, up 33.5% from the previous month and up 53.7% year-on-year.

During the January-October period, the country saw nearly 136,100 new enterprises set up with total registered capital of nearly 1,312 trillion VND, an increase of 1.9% in the number of enterprises and a rise of 4.1% in registered capital. The average registered capital of a newly-established enterprise in the 10 months of 2024 reached 9.6 billion VND, an increase of 2.2% compared to the same period in 2023.

In the reviewed period, more than 66,200 enterprises resumed their operations, an increase of 27.7% over the same period in 2023.

On the opposite side, over 92,100 enterprises temporarily halted operations in the last 10 months, an increase of 13.6% year-on-year. More than 63,700 companies ceased operations awaiting dissolution procedures, up 25.6%, and nearly 17,400 businesses completed dissolution procedures, a year-on-year rise of 20.5%.

As a result, a total of 173,200 enterprises withdrew from the market in the first 10 months of 2024, up 18.4% year-on-year.